Speaking at a news conference in Alba Iulia, Nita said Cuprumin will likely end the 2014 fiscal year in positive territory.
“The profits will be used to upgrade the company’s equipment.”
Cuprumin is Romania’s largest copper producer and owns around 60% of the country’s estimated copper reserves.
The government has been trying to privatize the company for several years, but with no results. In 2012, Canadian-based Roman Copper Corp. won an auction to purchase Cuprumin, but the government cancelled the auction, citing contractual disagreements.
Last year, the authorities changed tactic and tried to sell over 331,000 tons of copper concentrate mined by Cuprumin, but the auction fell through, as the two qualified investors did not submit binding bids.